The New Zealand Federation of Business and Professional Women (BPW NZ) challenges all New Zealanders to take off their blinkers and acknowledge that the gender pay gap is detrimental to NZ.

The Statistics NZ Income Survey for the June 2013 quarter shows clearly that women are still way behind in equal pay. The average weekly income from wages and salaries that in 2012 men earned $598 per week and women $383 (difference $215). In 2013, even though earnings increased the difference remained: men $932, women $717 (difference $215).

BPW NZ has calculated that the 20th February, is a Red Day for all working women, who have effectively worked from the 31 December until today to earn the same as their male counterparts.

“In real figures the financial disadvantage to women equates to $11,180 per year, and this is unacceptable,” says President Carolyn Savage.

“Over a five-year period, the disadvantage of pay inequality equates to $55,900 or 13% towards a deposit for a $400,000 home.”

“BPW NZ is concerned that the gender pay gap negatively impacts on potential financial growth of New Zealand through investment and therefore GDP.

“Research by Goldman Sachs suggests that reducing the gender pay gap increases the productivity of the economy and we all want that”, says Mrs Savage

“For the sake of our economy we call on the New Zealand Government and business leaders to implement change, to become world leaders and ensure women and men receive equal pay for work of equal value.”

“Now is the time for change.”

“With more money in the pockets of women and their families, then New Zealand wins and not just on the sports field!” says President Carolyn Savage